China condemns unilateral intimidation because it calls us to abandon prices | Trump prices

China has condemned unilateral intimidation practices of the United States because it urged Washington to immediately abandon the enormous prices that have been placed on Chinese products.

Late Wednesday evening, the White House unveiled new prices on all imports in the United States. Chinese goods, which were already subject to a 20%tax, received an additional 34%rate, bringing the total rate to 54%. The additional levy, which is part of Donald Trump's suite of the so-called reciprocal rates intended for specific countries, took effect on April 9.

The Chinas Ministry of Commerce said Thursday that the necessary measures would be necessary to resolutely protect legitimate rights and interests without specifying what they can be. There are no winners in commercial wars, and there is no way for protectionism, said the ministry.

The Ministry of Foreign Affairs accused the United States of intimidation and said that other countries were also opposed to new politicians.

However, official media in official media were relatively dispersed on the subject. This reflects the fact that China, unlike other countries struggling with a new economic reality, is well used to American prices, said Wang Wen, the dean of the Institute of Financial Studies at the University of Chinas de Renmin de Chinas.

Exports represented around 20% of Chinas GDP last year, with a last-minute thrust in December while exporters rushed to send goods before the United States's planned rates. Exports to the United States jumped almost 16% in December.

Many export products of the main Chinese, such as electric vehicles and solar panels, are actually already blocked on the American market due to previous prices, including certain led by Biden administration.

For years, Chinese companies have been moving their supply chains to other countries, especially in Southeast Asia, to circumvent American samples. Now, these countries have also been affected by prices, exports to the United States of Vietnam, subject to a tax of 46% and those of Thailand, subject to 37%.

The president of the European Chamber of Commerce in China, Jens Eskelund, said that the prices would likely have an impact on some elements of some of our members provide chains, while increasing great uncertainty for many others.

Trump also closed the so-called minimus escape which made it possible to import low-value goods into the United States. About 60% of these goods came from China, fueling the rise in fast and electronic fashion companies such as Shein and Temu.

Among the countermeasures that China should consider are its currency, the reciprocal prices and the restriction of the export of certain critical minerals. China has already prohibited the export of gallium, germanium and antimony in the United States, citing their potential military applications.

But each of these measures has disadvantages, said Michael Pettis, professor of finance at the University of Beijing.

If you reduce the export of critical minerals, you must reduce the domestic production of these critical minerals, which means putting workers on bankruptcy, said Pettis. If you depreciate your currency in response to American prices, you are not [just] Punishing the United States, you punish all your business partners.

Yeling Tan, professor of public policy at the Blavatnik School of Government at the University of Oxford, said: the Chinese government denounced the latest USS tariffs, but stopped in immediate reprisals. This indicates that Beijing leaves room for an agreement to be concluded before the prices take effect on April 9.

China is now faced with a delicate balance. Reprisals could harm the efforts to stimulate an already low indoor economy and the risks detering the very foreign investment that China hopes to attract.